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05 February 2013

China To Make Better Use Of Sea Resources

By 2015 share of gross marine economy in China's GDP will reach 10 per cent.

This ambitious figure was stated in the National Program for the marine economy development in period of the 12-th five-year plan, recently issued by the State Council of China.
It is expected that from 2011 to 2015 an average annual growth of gross marine economy in China will be 8 per cent. According to the Chinese government’s plans, within the 12-th five-year plan the country's science and technology and innovation potential in sphere of marine resources will be continually growing. By 2015 the level of commercialization of scientific and technological advances in this area will exceed 50 per cent, and their share in total marine economy production will account for over 60 per cent.
Apart from commercialization and industrialization, there’s good news for ecology side as well. During the next five-year plan it’s planned to create 80 marine reserves of different types and categories, so that by the end of 2015 their area reach 3 per cent of the total sea area of China.
Despite rather pessimistic views of many economists for the further development of global, and particularly, Chinese economy, the country’s government expects breakthrough in the development of some new industries in the maritime segment of economy. According to the program, their value added in 2015 will double compared with the end of 2010, while the share in the gross marine economy exceeds 3 per cent. In particular, the average annual growth in value of services in this area should reach 9 per cent. However, in my opinion, it can push off numerous companies which currently operate in China due to cheaper labor compared to other countries.


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